Insurance License Hub

The Maine Viatical and Life Settlement Provider license

Viatical and Life Settlement Provider

Buys life policies from the people insured under them. Maine licenses the provider and stops there: the person who brings the business is a life insurance producer, not a broker with a license of their own.

Course

None

This license has no pre-licensing course route.

Ways in

1

There is no state exam for this license.

Exam

n/a

Not required on any of the routes below.

Every way to qualify

  1. Route 1 Apply, be investigated, and show financial accountability

    No state exam for this license

    The six findings the superintendent must make

    • A detailed plan of operation; competence, trustworthiness and an intention to act in good faith as a settlement provider; a good business reputation with experience, training or education qualifying the applicant; a certificate of good standing from Maine and, for a foreign entity, from its state of organization as well; no officer, partner, director, member or key management personnel found guilty of or having pleaded guilty or nolo contendere to a crime involving fraud or moral turpitude, whether or not a judgment of conviction was entered; and an antifraud plan meeting section 6818

    and evidence of financial accountability

    • Evidence of financial accountability, which may include a binding and committed lending facility of at least $1,000,000 with a term of at least one year, or a net worth in excess of $100,000

    24-A M.R.S. 6803(1) licenses one of the two roles and sends the other somewhere it already exists. (A): no person may act as a settlement provider without a license issued under this section. (B): no person may perform the functions of, or otherwise act as, a settlement producer "without a license from the superintendent as a life insurance producer". So Maine issues no life settlement broker license at all, where Delaware, Iowa, Virginia, New York, Texas, Rhode Island, Vermont and New Hampshire each issue one, and Alaska issues three tiers. The person who brings a viator to a provider in Maine holds the ordinary life line this site already carries. What the provider license asks for is not a test of a person but an investigation of a business. 6803(6) is a closed list of six findings and the plan of operation is first among them; 6803(7) adds financial accountability with two illustrative ways of showing it, a committed lending facility of at least $1,000,000 for at least a year, or a net worth above $100,000, and the subsection is drafted so those are examples rather than the only ways. 6803(5) makes the license reach every officer, partner, director, member and key management person of the licensee, all of whom must be named in the application, unless what they are doing needs a license of its own elsewhere in Title 24-A. 6803(3) makes the license continuous while the annual fee is paid, and gives a provider who misses the payment five days from written notice to cure before revocation. 6803(9) requires the superintendent to keep a public list of every licensed provider and of every application pending. The fee is $400 to issue and $400 a year at 601(27), the most expensive individual-side license Maine issues.

    Read at legislature.maine.gov on 2026-08-19

No national seller sells a course for this license. Nothing could: 6803(6) is six findings about a business, including a detailed plan of operation and an antifraud plan, and no examination appears anywhere in chapter 85. The one person in a Maine settlement who does sit a paper is the settlement producer, and 6803(1)(B) says that person holds an ordinary life insurance producer license, which has a course list on this site.